TRENTON, NJ—The New Jersey Economic DevelopmentAuthority authorized $64 million in incentives to keep twomanufacturing companies in Paterson andNorthvale from relocating across the border tolocations respectively in Orange and Rockland counties in New YorkState.
The EDA awarded a tax break of $40 million to AccurateBox Co., to help expand its 200,000-square-foot factory at5th Street in Paterson. The company is also considering a possiblemove to Montgomery, NY in Orange County where it would lease abuild-to-suit building, according to The Record.
Paterson Mayor Joey Torres says Accurate Boxrecently rented space in Totowa to accommodate expansion."Definitely it would have been a big economic blow to Paterson ifAccurate were to leave," he said. "Accurate is one of the premierpackaging companies ... I am hoping that with this incentive theywill not only meet their short terms needs, but also their futureneeds."
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
